Auditing Standards

Guidelines to which an Auditor adheres. See also Generally Accepted Accounting Principles (GAAP).

Guidelines that auditors follow when examining financial statements and other data. Auditing standards are promulgated by authoritative bodies, such as the American Institute of Certified Public Accountants (Aicpa) which issues Generally Accepted Auditing Standards (GAAS). The Institute of Internal Auditors (IIA) also sets standards for internal auditors. Further, standards exist for auditors filing for companies with governmental regulatory bodies.